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Daniel Thwaites PLC - Lancashire, England-based pub and hotel chain - Pretax profit declines 40% to £9.1 million in the financial year that ended March 31 from £15.1 million the year prior. Revenue climbs 6.2% to £115.5 million from £108.8 million, while cost of sales increase just 5.8% to £90.1 million from £85.2 million. However, gains on interest rate swaps measured at fair value shrinks to £1.3 million from £6.6 million, and net interest payable increases 27% to £5.2 million from £4.1 million.
Daniel Thwaites recommends a final dividend of 2.5 pence per share, bringing the total payout to 3.35p, up 6.3% from 3.15p a year prior.
Looking ahead, Chair Richard Bailey says: ‘The UEFA European football championships present a good opportunity for pubs this summer, the inns continue to increase market share locally, our hotels are benefitting from a stronger corporate market, and we have high hopes for the first full year of trading at [newly opened pub in Lake District] Langdale Chase. This last year has been one of confident investment across every area of the company and that places us in a very strong position to move our performance forward in this current financial year. We have high expectations that, all things being equal, this coming year will be a good one.’
Current stock price: 82.50 pence per share on Aquis Stock Exchange
12-month change: down 14%
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